Extensions Granted by the P.R. State Insurance Fund
An McV Labor & Employment Law Alert
Employers in Puerto Rico with permanent or eventual insurance policies with the State Insurance Fund (“SIF”), with unpaid premium payments that were due on October and November 2017, have until December 29, 2017 to satisfy such payments and maintain their insured employer status. The SIF granted this automatic extension as a relief measure for employers affected by Hurricane Maria. No further extensions will be granted by the SIF.
The SIF also approved a 90 day extension to the Incentive Plan approved on August 22, 2017, which originally ended on December 20, 2017. Employers in Puerto Rico now have until March 20, 2018 to benefit from the SIF’s Incentive Plan to satisfy amounts owed to the SIF, subject to certain requirements and conditions. For more information regarding the SIF’s Incentive Plan, refer to our Alert dated October 6, 2017.
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